The value of hiring baby boomers in the workplace
If your business is in search of new employees, then you may want to consider turning to baby boomers: A growing number of people in their 50s and 60s are holding off on retirement, which could benefit your business recruiting.
And you wouldn't be the only coroporation to do so.
The trend begins....
Hiring baby boomers is a growing trend among industries of all kinds. In fact, according to a recent study by AARP, health care industries, universities, and the U.S. government are setting their sights on hiring workers age 55 and older.
Healthcare companies and facilities such as TriHealth Incorporated, Central Florida Health Alliance, Pinnacle Health, and the Saint Vincent Health System regularly hire baby boomers. In addition, the University of Pittsburgh, Cornell University, West Virginia University, and a number of other public and private colleges across the country hire older workers as well.
Government agencies like the Department of the Interior and the Department of Veteran Affairs both take advantage of all that baby boomer employees have to offer.
[Related: So you need to hire a B2B salesperson?]
As with most trends, however, there are pros and cons:
As mentioned in the article Retired Boomers Going Back to Work: It is Not About the Money! baby boomers are passionate about continuing to work into their later years. In addition, this generation also offers:
- Experience—A strong corporate and business background is something that many baby boomers bring to the table. Although the way you run your business has probably changed over the years, the one-on-one interactions and business management techniques probably haven't changed much at all. Experienced baby boomers can provide unique, valuable perspectives in these departments.
- Dependability—Older workers know how important it is to show up on time and put in a good day's work. They are dependable, loyal, and usually have flexible work schedules, which means your business can depend on them when other employees are unable to work.
- Leadership—The experience and knowledge that baby boomers have gained over the years makes them excellent leaders. They're not afraid to take on projects, manage other workers, and give direction.
- Financially Stable—Many baby boomers that choose to work into their retirement years are usually financially stable. They already have healthcare coverage and aren't interested in job benefits, which can save your business money.
The disadvantages of hiring baby boomers are few and far between however they're still worth mentioning.
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For example, some baby boomers may be set in their ways, which could make it difficult for them to take direction, especially from younger employees at your business.Likewise, although older workers are experienced in many business practices, technology might not be in their wheelhouse.
This doesn't mean baby boomers aren't trainable, but it does create a larger learning curve, which could cost your business time and money.
About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including business management and the hiring process.
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G7 Summit guide: What it is and what leaders hope to achieve
Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration.
Who are the G7?
The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like.
The merry band comprises:
- The United Kingdom
- The United States
Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.
Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda.
When was the ‘G’ formed?
Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s.
Why does the G7 exist?
At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted.
The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability.
It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations.
Where is the 2021 G7 summit?
This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall.
What will be discussed this year?
After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”
The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values.
According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.”